Is Ford the largest car company?
No — Ford is not the largest car company by the most common benchmarks. Toyota, Volkswagen Group, and even Tesla lead the field on different metrics today. This article breaks down what "largest" can mean and where Ford fits across the main measures as of 2024–2025.
What counts as "largest" in the auto industry?
Researchers and industry trackers measure "largest" in several ways: vehicle sales (units sold), revenue, production, and market value (market capitalization). Each metric yields a different leader. Below is a snapshot of how Ford compares across the main benchmarks.
Vehicle sales leadership
Leading automakers by annual vehicle sales typically include Toyota and the Volkswagen Group, with Ford trailing behind. The rankings can shift yearly based on demand, product mix, and regional performance.
Note: The figures below reflect recent full-year results for 2023 and early 2024 projections.
- Toyota Motor Corporation — approximately 10.5 to 11 million vehicles (2023)
- Volkswagen Group — approximately 8.8 to 9.5 million vehicles (2023)
- Hyundai-Kia — approximately 6.8 to 7.5 million vehicles (2023)
- General Motors — approximately 6.0 to 6.4 million vehicles (2023)
- Ford Motor Company — approximately 4.0 to 4.5 million vehicles (2023)
Concluding the list: By global vehicle sales, Ford is not among the top two manufacturers, though it remains a major player with a strong U.S. footprint, trucks, and a growing EV lineup.
Where Ford stands on revenue and profitability
Revenue and profitability provide another lens. Ford typically reports lower revenue than the leading global automakers and faces tighter margins in some markets, even as it remains competitive in North America and expanding its truck and EV offerings.
Revenue and profitability snapshot
In 2023 Ford reported revenue around the low-to-mid hundreds of billions in USD, typically lower than Toyota’s and VW’s scale, though profitability can vary by segment and region.
Note: Currency effects and reporting periods matter; these figures illustrate relative size rather than precise rankings.
Market value and investor standing
Market capitalization — the market’s valuation of the company — tells a different story. In recent years, Tesla has eclipsed traditional automakers as the most valuable car company by this metric. Ford’s market capitalization remains substantial but well below the leaders.
Market capitalization landscape
As of 2024–2025, the leaders by market cap typically include Tesla, followed by Toyota and Volkswagen, with Ford positioned far behind in the broader ranking. Exact figures fluctuate with the stock market and exchange rates.
- Tesla — market capitalization generally higher than Ford
- Toyota — market capitalization in the hundreds of billions USD
- Volkswagen Group — market capitalization in the low hundreds of billions USD
- Ford — market capitalization in the tens of billions USD
Concluding the list: In terms of market value, Ford is not the largest signature automaker; its value trails behind the top EV and traditional manufacturers.
What this means for consumers and the market
For consumers, the label of “largest” matters less than product selection, pricing, reliability, and overall value. Ford remains a major global automaker, with a strong product lineup in trucks and SUVs and a growing push into electric vehicles, while facing competition from Toyota, VW, Hyundai-Kia, GM, and Tesla.
Bottom line
Ford is not the largest car company by the most common metrics. Toyota typically leads in global vehicle sales; Tesla leads in market capitalization among automakers, and Ford is behind the leaders in those key measures, while maintaining a broad global footprint and ongoing product development.
Summary
Largest depends on the metric. By vehicle sales, Toyota often leads; by market value, Tesla has led in recent years; by revenue, Toyota and VW typically outrank Ford. Ford remains a major global automaker, but not the largest by the main benchmarks used in industry rankings as of 2024–2025.
